ConsenSys Acquires Treum’s Team, NFT Platform

ConsenSys has acquired Treum’s team and NFT platform from Web3 incubator Mesh in a move that will allow the Ethereum software company to advance its NFT technology offering for creators, brands, rights owners, game publishers, sports teams and leagues.

The purchase of Treum — a blockchain and supply chain company — follows the creation of the Palm NFT Studio, an ecosystem that ConsenSys launched with HENI Group and Heyday Films in March.  

Johnna Powell, executive director of ConsenSys’s strategic initiatives, said during a webinar on Tuesday that NFTs go beyond redefining collectibles to a broader vision of rebuilding the world in a digital format.

“Investors are bullish, brands, artists and celebrities continue creating, sales continue to increase and even where we see that there have been cycles of NFT popularity and less popularity, there are so many indicators in the market that point to continued growth,” she said. “We feel very strongly that we’re just at the beginning.”

Powell said in a statement that ConsenSys is focused on making Web 3 easy to use, access, and build on, noting that it was “an obvious decision” to accelerate the development of its NFT platform for end-users and builders. 

She wrote to Blockworks in a message during the webinar that the company believes art, sports and brand or loyalty programs, in particular, could be “very meaningful opportunities” in the NFT space.

Treum will be able to leverage ConsenSys’s massive pipeline of customers and products, Treum co-founder Tyler Mulvihill wrote to Blockworks during the webinar’s Q&A session. Among those products is MetaMask, which passed 10 million monthly active users in August. The offering is a mobile app and browser extension that functions as a cryptocurrency wallet for interacting with the Ethereum blockchain.

“We bring that expertise, capability, team and platform ready to go under the ConsenSys umbrella,” Mulvihill said. “With the ConsenSys scale, we think our exponential journey is really just starting.”

Treum earlier this year introduced EulerBeats, an Ethereum-based NFT music and art project that features algorithmically generated art and audio tracks. Its second collection of tracks sold for $3 million in March following the successful launch of “Genesis” earlier this year, and the platform has distributed millions in royalties and staking rewards to its user base. 

Source :  blockworks.co